The rise of online shopping has led to swathes of store closures, casting doubt over the future of retail malls and high streets, but in Europe there are signs that shops are back in vogue and are important for helping to drive online sales. European retailers are investing in physical shops to stimulate both online and offline sales as they face increasing competition from giant e-commerce companies, such as fast-fashion group Shein. They also want to capitalise on people's renewed appetite for visiting shops once Covid-19 lockdowns ended, which has made a Saturday afternoon shopping spree fashionable again.
"I come to stores as I want to see things live, try them out, and have them immediately available," said Francesca Marini, 28, while browsing in a mall in Rome. She said the waiting involved in online shopping spoiled the experience. The overall number of stores in Europe is slightly declining, down to 4.
90 million in 2023 from 4.92 million the year before, data from market research company Euromonitor shows. But selling space measured in square meters edged up almost 1% and should increase to 2.
7% in 2028 in comparison to 2022, the data showed. Retailers realise that it is difficult to keep customers without some direct contact with them, said Thomas Joekel, a portfolio manager at Union Investment, which holds shares in LVMH and Adidas. "This is easier to achieve if you have brick-and-mortar stores rather than just e-commerce," he said.
"On the e-commerce side you can o.
